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Old 13.10.2007, 22:14
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jbrady jbrady is offline
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Re: Pensions - how much are they really worth

I am 47 and the projections are based on retirement at 62.
The mortgage being paid off was the thing which put the fly in the ointment for me. Swiss style is not UK style. You basically seem to pay off the interest plus 1 percent amortorium (?), not like in England where you aim to pay the whole amount off before you retire.
I suppose with inflation and other factors - 1200 a month mortgage repayment will not seem the same in 15 years. Hopefully the salary goes up with inflation also.
I think that we all must think about the third pillar or some equivilant - with an extra 2k a month at todays rates, then I guess it could be an OK retirement. Without this, I think you need to start thinking about living in a cheaper country once you stop working. Many of my swiss friends seem to have taken this approach.
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